Equity
Equity fell by 98% in 3 years.
Equity fell by 98% in 3 years.
The micro format states no turnover.
Short-term debts rose from €55,533 to €126,361.
New director. Latest change 01-04-2026 · 2 in office.
Lower solvency than 85% of companies in advertising and market research. Sector median 53.3% · 8,614 companies.
The dashed line is the sector median: 0.2% across 11,228 companies (NACE 73, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 73, micro). It does better than 15% of them on solvency, 20% on liquidity, 88% on profitability and 5% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 2,153 companies had the same profile as CDCA has now. Each dot stands for 6 companies, two years later.
That fits the bankruptcy probability of CDCA itself: 0.4% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 2,153 companies, not a prediction for CDCA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 5 accounts on average 19 days before the deadline. In the sector (NACE 73), the median for financial year 2024 was 6 days before the deadline, and 36% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| CDCA Riemst | €129,361 | €70,049 | 2.3% | - |
| ECOM360 Aalst | €122,760 | €67,876 | 57.0% | - |
| Aqua seafoam shame Antwerp | €127,864 | €85,547 | 67.2% | - |
| Van Grinderbeek Kontich | €128,605 | €68,512 | 6.9% | - |
| PROMO IMPEX Gerpinnes | €140,832 | €81,159 | 2.9% | - |
| Two Impress Sint-Niklaas | €128,487 | €56,410 | 33.6% | - |
| KORJO Ghent | €114,506 | €63,684 | 7.0% | - |
These companies have the same main activity as CDCA: advertising agencies (NACE 73110). They are comparable in size and age: total assets between €115,000 and €141,000, founded between 2020 and 2021.
CDCA files the micro format. That format states no turnover. The gross margin fell from €109,473 in 2021 to €70,049 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €150,000. Estimated: probably between €130,000 and €200,000.
Higher than 14% of 8,614 companies in 2025.
Higher than 20% of 8,290 companies in 2025.
Higher than 80% of 8,399 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
20/58 |
129,361 | 169,086 | 163,058 | 187,222 | 128,903 | |
21/28 |
16,043 | 23,120 | 22,304 | 810 | 1,361 | |
22/27 |
16,043 | 23,120 | 22,304 | 810 | 1,361 | |
22 |
1,176 | - | - | - | - | |
23 |
3,587 | 4,860 | 6,133 | - | - | |
24 |
11,281 | 18,260 | 16,170 | 810 | 1,361 | |
29/58 |
113,319 | 145,966 | 140,754 | 186,412 | 127,542 | |
29 |
- | 0 | 50,000 | 37,000 | 22,000 | |
291 |
- | 0 | 50,000 | 37,000 | 22,000 | |
3 |
10,153 | 7,008 | - | - | - | |
30/36 |
10,153 | 7,008 | - | - | - | |
40/41 |
66,141 | 115,088 | 58,133 | 50,672 | 31,696 | |
40 |
60,280 | 81,936 | 58,133 | 28,672 | 30,745 | |
41 |
5,861 | 33,152 | 0 | 22,000 | 951 | |
54/58 |
37,024 | 23,870 | 32,622 | 98,739 | 73,846 | |
| Balance sheet: equity and liabilities | ||||||
10/49 |
129,361 | 169,086 | 163,058 | 187,222 | 128,903 | |
10/15 |
3,000 | 113,553 | 83,914 | 133,671 | 87,261 | |
10/11 |
3,000 | 3,000 | 3,000 | 3,000 | 3,000 | |
13 |
0 | 110,553 | 80,914 | 130,671 | 84,261 | |
133 |
0 | 110,553 | 80,914 | 130,671 | 84,261 | |
14 |
0 | 0 | 0 | - | - | |
17/49 |
126,361 | 55,533 | 79,144 | 53,551 | 41,642 | |
42/48 |
126,361 | 55,533 | 79,144 | 53,551 | 41,642 | |
44 |
3,303 | 13,749 | 22,669 | 13,923 | 13,738 | |
440/4 |
3,303 | 13,749 | 22,669 | 13,923 | 13,738 | |
45 |
31,860 | 41,784 | 39,431 | 38,269 | 26,651 | |
450/3 |
31,860 | 41,784 | 39,431 | 38,269 | 26,651 | |
47/48 |
91,198 | 0 | 17,044 | 1,359 | 1,253 | |
| Income statement | ||||||
9900 |
70,049 | 157,384 | 107,615 | 61,155 | 109,473 | |
62 |
125 | 422 | 776 | - | - | |
630 |
8,278 | 7,222 | 3,032 | 551 | 291 | |
640/8 |
2,467 | 5,907 | 3,574 | 2,586 | 2,812 | |
9901 |
59,179 | 143,834 | 100,233 | 58,018 | 106,370 | |
75/76B |
13 | 1,995 | 3,045 | 1,118 | 152 | |
75 |
13 | 1,995 | 3,045 | 1,118 | 152 | |
65/66B |
1,022 | 1,224 | 216 | 84 | 48 | |
65 |
1,022 | 1,224 | 216 | 84 | 48 | |
9903 |
58,170 | 144,604 | 103,062 | 59,052 | 106,474 | |
67/77 |
15,753 | 34,051 | 22,148 | 12,642 | 22,213 | |
9904 |
42,417 | 110,553 | 80,914 | 46,410 | 84,261 | |
9905 |
42,417 | 110,553 | 80,914 | 46,410 | 84,261 | |
| Appropriation of the result | ||||||
9906 |
42,417 | 110,553 | 80,914 | 46,410 | 84,261 | |
791/2 |
110,553 | 80,914 | 130,671 | - | - | |
691/2 |
0 | 110,553 | 80,914 | 46,410 | 84,261 | |
6921 |
0 | 110,553 | 80,914 | 46,410 | 84,261 | |
694/7 |
152,969 | 80,914 | 130,671 | - | - | |
694 |
152,969 | 80,914 | 130,671 | - | - | |
| Document | ||||||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 30-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-04-2026 | 2026-00101271 | |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00334563 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00317177 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00163200 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20351375 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| 67,457 | 151,056 | 103,265 | 58,569 | 106,661 | ||
| 50,695 | 117,775 | 83,947 | 46,961 | 84,552 | ||
| 1,201 | 8,038 | 24,526 | 0 | 1,652 | ||
| 13,154 | -8,752 | -66,118 | 24,893 | - | ||
| -13,043 | 90,433 | 61,610 | 132,861 | 85,900 | ||
| 2.3% | 67.2% | 51.5% | 71.4% | 67.7% | ||
| 0.90 | 2.63 | 1.78 | 3.48 | 3.06 | ||
| 0.82 | 2.50 | 1.78 | 3.48 | 3.06 | ||
| 42.12 | 0.49 | 0.94 | 0.40 | 0.48 | ||
| - | 97.4% | 96.4% | 34.7% | 96.6% | ||
| 32.8% | 65.4% | 49.6% | 24.8% | 65.4% | ||
| 65.99 | over 100 | over 100 | over 100 | over 100 |
A ratio outside any meaningful range has been withheld (balance sheet total €129,361, equity €3,000).
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,201 | €8,038 | €24,526 | - | €1,652 |
| Financial fixed assets | €0 | - | - | - | - |
| €8,278 | €7,222 | €3,032 | €551 | €291 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 59% lower than in 2024 and the lowest since 2022.
Debt's share of the balance-sheet total rises from 32.8% to 97.7%. Equity is lower and debt is higher.
CDCA has no parent and no holdings in its annual accounts. CDCA shares no director with another company.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Maastrichtersteenweg 27 registered office 3770 Riemst 47716 Retail sale of clothing and accessories for women, men, children and babies (general range) | 27-01-2021 | 2.312.633.220 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 73066A0276/00A000 | 2,152 m² | 1 · 198 m² | 8.1 m · 2 |
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